Cloudflare, Inc. (NYSE:NET) Shares Acquired by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC lifted its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,760 shares of the company's stock after acquiring an additional 16,040 shares during the period. Carnegie Capital Asset Management LLC's holdings in Cloudflare were worth $12,719,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NET. Sunbelt Securities Inc. purchased a new stake in shares of Cloudflare in the first quarter worth about $29,000. Providence Capital Advisors LLC lifted its position in shares of Cloudflare by 6,065.0% in the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company's stock worth $40,000 after buying an additional 2,426 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company's stock valued at $45,000 after purchasing an additional 514 shares during the period. ORG Partners LLC purchased a new stake in Cloudflare during the fourth quarter valued at approximately $55,000. Finally, Harvest Fund Management Co. Ltd raised its position in Cloudflare by 2,422.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company's stock valued at $56,000 after purchasing an additional 848 shares during the period. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

NET has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on Cloudflare from $95.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, February 9th. Capital One Financial initiated coverage on Cloudflare in a research report on Wednesday, January 17th. They set an "equal weight" rating and a $83.00 price objective on the stock. KeyCorp upped their price objective on Cloudflare from $94.00 to $132.00 and gave the company an "overweight" rating in a research report on Friday, February 9th. Royal Bank of Canada upped their price objective on Cloudflare from $95.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, February 9th. Finally, Morgan Stanley upped their target price on Cloudflare from $66.00 to $92.00 and gave the company an "equal weight" rating in a research note on Monday, February 12th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $87.50.

Insider Buying and Selling

In other Cloudflare news, COO Michelle Zatlyn sold 277,376 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total value of $28,062,129.92. Following the sale, the chief operating officer now owns 38,545 shares of the company's stock, valued at $3,899,597.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Michelle Zatlyn sold 277,376 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $101.17, for a total value of $28,062,129.92. Following the completion of the sale, the chief operating officer now directly owns 38,545 shares of the company's stock, valued at $3,899,597.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl Ledbetter sold 30,214 shares of the company's stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $76.03, for a total transaction of $2,297,170.42. Following the completion of the sale, the director now directly owns 1,539,316 shares of the company's stock, valued at $117,034,195.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,113,937 shares of company stock worth $106,926,869. Insiders own 14.80% of the company's stock.

Cloudflare Stock Down 2.4 %

NYSE NET traded down $2.32 during midday trading on Friday, hitting $93.76. 2,503,892 shares of the company traded hands, compared to its average volume of 2,328,784. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The company has a market cap of $31.66 billion, a PE ratio of -170.47 and a beta of 1.12. The company's 50-day simple moving average is $96.46 and its 200-day simple moving average is $81.16. Cloudflare, Inc. has a 52 week low of $39.90 and a 52 week high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.